COP vs OXY: ConocoPhillips and Occidental Petroleum compared
The short version
From the latest prices and each company's SEC filings. Who's ahead on each measure, not which to buy.
- ConocoPhillips is the larger company, worth $170.3B, about 2.7 times Occidental Petroleum.
- Occidental Petroleum grew revenue faster over the last year (+53.4% vs +36.8%).
- On earnings, ConocoPhillips is the cheaper stock (23.7x vs 85.1x).
Side by side
The stronger figure is shaded where higher (or, for valuation multiples, lower) reads as better. How the implied growth works.
| Measure | COP | OXY |
|---|---|---|
| Market cap | $170.3B | $62.6B |
| Share price | $134.10 | $60.11 |
| Revenue (last fiscal year) | $58.9B | $21.6B |
| Free cash flow (last fiscal year) | — | $4.1B |
| Revenue growth, last year | +36.8% | +53.4% |
| Revenue growth per year, last 5 fiscal years | +6.5% | -4.5% |
| Operating margin | 84.3% | — |
| Net margin | 14.7% | 33.7% |
| Return on equity | 14.2% | 17.5% |
| P/E (trailing) | 23.7x | 85.1x |
| Price / free cash flow | 10.2x | 15.2x |
| EV / EBITDA | 6.50x | 6.11x |
| FCF growth the price implies | — | 1.4% |
| Dividend yield | 2.4% | 1.6% |
| Debt / equity | 0.90x | 0.91x |
| Fundamental grade | B | B |
| Superinvestors holding it | 14 | 8 |
| Insider purchases, last 12 months | 7 | 4 |
Results from SEC filings
Revenue and free cash flow by fiscal year, from each company's 10-K filings.
ConocoPhillips
| Year | Revenue | Free cash flow | Op. margin |
|---|---|---|---|
| 2021 | $45.8B | $11.7B | 87.6% |
| 2022 | $78.5B | $18.2B | 91.1% |
| 2023 | $56.1B | — | 86.3% |
| 2024 | $54.7B | — | 84.0% |
| 2025 | $58.9B | — | 82.5% |
Occidental Petroleum
| Year | Revenue | Free cash flow | Op. margin |
|---|---|---|---|
| 2021 | $26.0B | $7.6B | — |
| 2022 | $36.6B | $12.3B | — |
| 2023 | $23.2B | $6.6B | — |
| 2024 | $22.0B | $5.2B | — |
| 2025 | $21.6B | $4.1B | — |
Where the revenue comes from
ConocoPhillips · by segments, 2025
Lower 48$41.4B70%
Europe, Middle East and North Africa$6.5B11%
Alaska$5.6B10%
Canada$3.6B6%
Asia Pacific$1.8B3%
Corporate$32M0%
Occidental Petroleum · by segments, 2025
Oil and gas$20.9B94%
Midstream and marketing$1.3B6%
Compare them in fullFifteen years of statements, quarterly results, DCF and IRR models, and any number of peers side by side.
Open COP in InvestinglyQuestions
Which is bigger, ConocoPhillips or Occidental Petroleum?
ConocoPhillips (COP), at $170.3B against $62.6B.
Is COP or OXY cheaper?
By trailing P/E, ConocoPhillips (23.7x) is cheaper than Occidental Petroleum (85.1x). A lower multiple can also mean the market expects less growth.
Which grows faster, COP or OXY?
Occidental Petroleum: revenue grew +53.4% over the last year, against +36.8%.
Prices and ratios as of the last daily update; statements from SEC filings. Information only, not investment advice.